Source: Business Insider
BOJ started/conceived the QE in 2001. I wanted to refer to the long term Nikkei chart to really understand if all that QE and money-printing has really helped them achieve what they have set out to achieve. Although, this chart is just one aspect, it is still somewhat clear - all QE does is give the market a temporary sugar high, which wanes quickly until a new-dose of QE is issued. This is scary... I would be looking at Japan's situation overall and their Debt/GDP is already ~300 so they should be the first ones to default, if and when, the debt holders loose it and start dumping their holdings in open market (assuming there is such a thing as open market ;)).
